Highest In History, Antam Records Gold Sales Reaches 43,776 Kg

Antam Gold Price (Photo: Antara)

JAKARTA - PT Aneka Tambang Tbk (ANTM) recorded a brilliant performance throughout 2024 with a record high gold sales volume in the company's history.

Antam's Director of Finance and Risk Management, Arianto Sabtonugroho Rudjito, said the company recorded the highest gold sales in the company's history with a volume of 43,776 kg or 1,407,431 troy oz.

"This figure has increased by 68 percent compared to 2023, which reflects Antam's high demand for gold products in the domestic market," he said, Wednesday, February 5.

Meanwhile, Antam can also maintain the stability of the company's gold mining production volume at the level of 1,019 kg (32,762 troy oz.) in the same period.

In addition to gold, the nickel sector also showed strong performance amid the dynamics of changing production license issuance regulations affecting the entire mineral mining industry. Antam managed to record nickel ore production of 9.94 million wet metric tons (wmt) throughout 2024. The sale of nickel ore reached 8.35 million wmt, reflecting the high demand for the industry for this commodity.

In the ferronickel sector, the company maintains production stability with a volume of 20,103 tons of nickel in feronikel (TNi), while feronikel sales reached 19,452 TNi.

Antam also recorded positive performance in the bauxite sector with the achievement of bauxite production and sales in 2024, respectively at 1.33 million wmt and 736,188 wmt.

"We continue to optimize production and strengthen relations with partners to ensure that every product we produce has high competitiveness in the market," Arianto explained.

As part of a downstream strategy in line with government policies, Arianto said Antam through its subsidiary, PT Gag Nickel, had acquired 30 percent of PT Jiu Long Metal Industry's shares. This step is part of the company's commitment to increasing the added value of domestically generated mineral commodities.

Arianto explained that this strategy will provide long-term benefits for Antam.

"This acquisition is part of our efforts to strengthen the domestic nickel industry, reduce dependence on raw material exports, and support the government's downstream program," he said.

In addition to business expansion in the nickel sector, Antam also established a strategic collaboration with PT Freeport Indonesia to strengthen the domestic gold supply chain. This collaboration aims to increase efficiency in gold production and distribution and ensure the sustainability of precious metal supplies for industrial and investment needs.

Antam and Freeport's collaboration will have a positive impact on the national gold industry by strengthening the gold industry ecosystem in Indonesia, ensuring the availability of domestic raw materials, and increasing the competitiveness of gold products in the global market.

Antam also collaborated with PT PLN (Persero) to provide 150 MVA of electricity supply for the Kolaka Feronicel Factory. This collaboration aims to increase energy efficiency while supporting the transition to more environmentally friendly energy use.

This environmentally friendly energy use initiative is part of Antam's long-term strategy in reducing carbon footprint and evidence of the company's commitment to implementing sustainable mining principles, one of which is through the use of energy that is more efficient and environmentally friendly.